Washington’s downtown sports arena is changing its name from the Verizon Center to the Capital One Arena, effective immediately.
Monumental Sports and Entertainment announced the switch of name for the venue, which opened as the MCI Center in 1997, and will change the signage and branding this autumn.
The Capital One Arena is home to the Washington Wizards of the National Basketball Association (NBA), Washington Capitals of the National Hockey League (NHL), the Georgetown University men’s basketball team and the Washington Mystics of the Women’s NBA, among others.
The arena’s seating capacity is 20,308 for basketball and 18,506 for ice hockey.
The deal is said to be worth $100 million over 10 years.
Owner Ted Leonsis said in a blog post:
Capital One Arena sounds fantastic. The bank shares our commitment to economic growth, philanthropy and community here in the DMV.
Capital One Arena is one of the few privately owned arenas in the country, and throughout its ownership, MSE has made over $100 million in investments to ensure the arena remains a best-in-class facility. I’m pleased to say we are making a further down payment on that commitment with this announcement today.